Five equities pull the MSE Equity Price Index lower

The MSE Equity Price Index fell by 0.56% to 3,911.2 points driven by declines in BOV, APS, Medserv, MIA, and HSBC. Meanwhile, five other equities closed unchanged as today’s trading activity amounted to €0.28 million. Download today’s Equity Market Summary.

Bank of Valletta plc shed 1% to the €2.08 level across 20 trades totalling 65,086 shares.

Also in the banking sector, APS Bank plc (-2% to €0.50) and HSBC Bank Malta plc (-0.7% to €1.46) moved lower as 73,758 and 5,000 shares changed hands respectively.

Malta International Airport plc moved 0.8% lower to the €5.90 level across five trades amounting to 2,871 shares. Today, MIA announced that last week the company bought back 1,883 of its own shares at a price of €6.00 per share.

MedservRegis plc shed 1.4% to the €0.69 level over a single deal of 2,000 shares.

GO plc closed unchanged at the €2.52 level across two trades totalling 840 shares.

GO’s IT services & digital infrastructure subsidiary BMIT Technologies plc traded flat at the €0.288 level across two deals amounting to 50,000 shares.

Likewise, Hili Properties plc (€0.27) and International Hotel Investments plc (€0.43) traded flat as 183,900 and 20,350 shares changed hands respectively.

Malta Properties Company plc stayed at the €0.40 level across three deals totalling 20,000 shares. MPC is expected to publish its annual results on Friday 6 March.

Today, M&Z plc announced that on 23 and 26 February, the company bought back 64,811 of its own shares at a price of €0.58 per share.

The RF MGS Index rose by 0.08% to 912.99 points reflecting a drop in sovereign bond yields as investors sought safer assets following the US and Israeli airstrikes on Iran this weekend. However, the conflict also led to the closure of the Strait of Hormuz, a vital passage that accounts for about one fifth of global oil shipments. Iran is also a major oil producer. In this context, WTI crude oil futures surged more than 8% to above USD72 per barrel, the highest level since June last year, causing OPEC+ to raise output by 206,000 barrels per day in April. Bond yields remained volatile during the day amid concerns of an inflation rebound and other economic implications that will arise from a prolonged Middle East conflict.

 

This report contains only public information and is not to be construed as investment advice or an offer to buy or sell securities. Information contained herein is based on data obtained from sources considered to be reliable, but no representations or guarantees are made with regard to the accuracy of the data. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Rizzo, Farrugia & Co. (Stockbrokers) Limited is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange.